real time target marketing
DESCRIPTION
Real time opportunities and target marketing is a presentation that was shared by Jared James at Zillow Academy. He asked that we post this and share it with others. Enjoy!TRANSCRIPT
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Job Data HighlightsThe US unemployment rate declined from 8.9 percent in February
to 8.8 percent in March. (went back up to 9% in April)
• 34 states saw a decline in the unemployment rate in thismonth with New Mexico, Florida, and Nevada seeingthe largest fall. The unemployment rate was unchangedin 9 states and DC.
• In March, North Dakota, Nebraska, and South Dakotahad the lowest unemployment rates—all under 5percent. Rhode Island, Florida, California, and Nevadahad the highest rates among the 50 states and DC.
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More Highlights & Outlook
• 38 states had positive job growth in March, and the average job growth in states was 0.1%.
• The greatest job growth in March was in Missouri while Maine had the largest job decline.
• Moving forward, increasing labor force participation may keep the unemployment rate
high even as jobs are being added.
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How is underemployment doing?
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Where are we this spring?
Existing-home sales increased 3.7% from February to March to a seasonally adjusted annual rate of 5.10 million (April went back to 5.05 millon)
About 40% of existing homes bought last month were distressed properties
The median sales price for an existing home was $159,600, down 5.9% from the year-ago median price of $169,600
Sales were up 3.9% in the Northeast, 1.0% in the Midwest, 8.2% in the South, and down 0.8% in the West
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Percentage of Sales by State
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Shadow Inventory by State
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What about the HVCC(Home Valuation Code of Conduct)
• Establishes standards for solicitation, selection, compensation, conflicts of interest and appraiser independence.
• It was effective May 1, 2009, for any mortgage that will be sold to Fannie Mae or Freddie Mac; Federal Housing Administration (FHA) and Federal Home Loan Bank (FHLB) mortgages are not covered in the agreement.
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So where are the opportunities?
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Stats to remember• 48% of sales people never follow up with a prospect• 25% of sales people make a second contact and stop• 12% of sales people make more than three contacts
And yet 26.6% of all inquiries result in a sale
This should motivate you• 2% of sales are made on the first contact• 3% of sales are made on the second contact• 5% of sales are made on the third contact• 10% of sales are made on the fourth contact• 80% of sales are made on the fifth to twelfth contact
Why should you be doing everything possible to stay in touch with people right now?
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Real Estate: It’s time to buy againhttp://finance.fortune.cnn.com/2011/03/28/real-estate-its-time-to-buy-again/
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So What’s New!!
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